Market Definition
Cardiac Ablation is the practice that uses energy to make small scars in the heart tissues. It prevents distinctive electrical signals that move through the heart and generate an uneven heartbeat. It can also be used to treat Atrial Fibrillation (AFib), a type of uneven heartbeat. Ablation is performed routinely using Radiofrequency (RF) and Cryoballoon (CB) catheters, with RF catheters being the most widely used technology. So, cardiac ablation devices are those devices that are used as a minimally invasive option to treat AFib.
Atrial fibrillation (AFib) affects 37,574 million people globally (0.51 percent of the population), and its prevalence has risen by 33% over the last 20 years. In 2021, around 11.92 million people in Europe suffered from AFib, i.e., likely to increase by up to 70% by 2030. Moreover, by 2050, Europe is projected to have the greatest increase in AF patients compared to other regions globally.
Market Insights
The Global Cardiac Ablation Devices Market is projected to grow at a CAGR of around 16.53% during the forecast period, i.e., 2022-27. The global market has experienced significant growth during 2017-19, owing to the mushrooming elderly population across North America, Europe, China, and Japan. According to WHO, people aged 60 & above are projected to be over 1.4 billion by 2030.
Over the last few years, the number of persons suffering from cardiac arrhythmia, particularly atrial fibrillation, has skyrocketed globally, which, in turn, has surged the number of patients suffering from high blood pressure, heart attacks, strokes, etc. The mounting inclination toward minimal-invasive surgical procedures since they are less painful than other methods and facilitate easy recovery is driving the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 16.53% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, Spain, France, Italy | |
| Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific | |
| South America: Brazil, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled |
Abbott Laboratories, Medtronic plc, Olympus Corporation, Johnson & Johnson (Biosense Webster, Inc.), Boston Scientific Corporation, CONMED Corporation, AngioDynamics, Inc., CardioFocus Inc., Stryker Corporation, MicroPort Inc., Stereotaxis Inc., Teleflex Incorporated, Lepu Medical Technology, Avanos Medical, AtriCure Others |
| Unit Denominations | USD Million/Billion |
Besides, the integration of various advanced technologies like robotics, 3D electro-anatomical mapping systems, etc., into cardiac ablation devices, coupled with escalating collaborations among companies to offer advanced devices, are also creating revenue-generating opportunities for the market.
Moreover, mergers & acquisitions among start-ups & well-established players operating in cardiac ablation technology are also on the rise. The existing cardiac ablation solution providers are focused on expanding their device portfolio and gaining access to new technologies & geographies via strategic events.
Impact of COVID-19 on the Global Cardiac Ablation Devices Market
The Covid-19 pandemic has been a catalyst in the growth of the Global Cardiac Ablation Devices Market. According to the United States Department of Veterans Affairs, the number of cardiac patients has soared immensely after the pandemic. Moreover, the intensity of cardiac diseases has also increased massively among the existing cardiac patients worldwide.
According to Washington University, the risk of heart failure has increased by around 72%, heart attacks by 63%, & strokes by 52% among the patients who had mild cardiac disease symptoms before the pandemic. The same trend has been observed in other countries like Germany, the UK, Sweden, Japan, India, GCC, France, etc. This sudden increase in the number of cardiac patients is projected to soar the demand for cardiac ablation devices in the coming years.
